Immediate Credit Reporting

I saw in the SF Chronicle that many banks now are subscribing to 24/7 REALTIME Credit info on all the cardholders they have.

EX: Charge up a Cap One to the limit, it reports next 24 period to all bureaus - who do a data dump to all other banks - who then see you raised a balance - then a day later - CHASE jacks you to 24%!

A quote from a CHASE exec said it was also GOOD for their customers. If you paid off all balances, or made a positive credit move, they would immediately send out an offer for a better rate....
YEAH - I AM SURE....

So - we are now in the day that what I charge at Nordstroms this pm will be updated to all bureaus tomorrow - and hopefully, my other card companies think I made a rational purpose....because they will see the slightest credit variation the next day...

I saw in the SF Chronicle that many banks now are subscribing to 24/7 REALTIME Credit info on all the cardholders they have.

EX: Charge up a Cap One to the limit, it reports next 24 period to all bureaus - who do a data dump to all other banks - who then see you raised a balance - then a day later - CHASE jacks you to 24%!

A quote from a CHASE exec said it was also GOOD for their customers. If you paid off all balances, or made a positive credit move, they would immediately send out an offer for a better rate....
YEAH - I AM SURE....

So - we are now in the day that what I charge at Nordstroms this pm will be updated to all bureaus tomorrow - and hopefully, my other card companies think I made a rational purpose....because they will see the slightest credit variation the next day...